So I admit I know very little when it comes to this subject. But weren't we told "drill baby drill" going back as far as the 2008 GOP convention, and that an oil surge from something like the Keystone Pipeline would drop gas prices down to something ridiculous like $2/gallon?

I never believed that rosy scenerio, but we've gotten the most promising news in energy independence this past year when it has now been projected for America to overtake Saudi Arabia in oil production.

So here we are, projected to be the global leader in oil production. Something that not even the Keystone Pipeline could have achieved, and goes beyond even its rosy projections in terms of oil generated for American usage.

There are many factors that commodities traders look at when developing the bids that create oil prices:

Current supply in terms of output, especially the production quota set by OPEC. If traders believe supply will decline, they bid the price up. If they believe supply will increase, they willing to pay as much for oil, and the price falls.

Oil reserves, including what is available in U.S. refineries and what is stored at the Strategic Petroleum Reserves. These reserves can be accessed very easily, and can add to the oil supply if prices get too high. Saudi Arabia also has a large reserve capacity. If it promises to tap those reserves, traders allow oil prices to fall.

Oil demand, particularly from the U.S. These estimates are provided monthly by the Energy Information Agency . Demand usually rises during the summer vacation driving season. To predict summer-time demand, forecasts for travel from AAA are used to determine potential gasoline use. During the winter, weather forecasts are used to determine potential home heating oil use.

Our current supply is increasing, our reserves are or will be increasing.

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"Not every one that saith unto me, Lord, Lord, shall enter into the kingdom of heaven; but he that doeth the will of my Father ... And then will I profess unto them, I never knew you: depart from me, ye that work iniquity."

"If the people let government decide what foods they eat and what medicines they take, their bodies will soon be in as sorry a state as are the souls of those who live under tyranny." - Thomas Jefferson

True this has happened since the creation of the Federal Reserve but it doesn't explain everything here.

__________________
"Not every one that saith unto me, Lord, Lord, shall enter into the kingdom of heaven; but he that doeth the will of my Father ... And then will I profess unto them, I never knew you: depart from me, ye that work iniquity."

"If the people let government decide what foods they eat and what medicines they take, their bodies will soon be in as sorry a state as are the souls of those who live under tyranny." - Thomas Jefferson

Gas has gone up about 50 cents a gallon in the past month. Seems like the price has gone up every time I pass the nearest station.

Haven't heard a word about it in the media, though. I guess they're too busy reporting on Dan Marino's bastard baby.

Yup, complete ****ing bullshit if you ask me. It happens every election cycle though no matter who the incumbent sides with. Bush had gas prices drop drastically in 08 from $4 to about $1.19 and it rose steadily over a 6 month period(if i'm not mistaken on that timeframe) and Obama had the same thing happen this time around. I knew it couldn't last.

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"Not every one that saith unto me, Lord, Lord, shall enter into the kingdom of heaven; but he that doeth the will of my Father ... And then will I profess unto them, I never knew you: depart from me, ye that work iniquity."

"If the people let government decide what foods they eat and what medicines they take, their bodies will soon be in as sorry a state as are the souls of those who live under tyranny." - Thomas Jefferson

All kinds of people vote. Not enough of those people think highly enough of Trump to make him President but all kinds of people vote.

Quote:

Originally Posted by Donger

So, if they were polling better than Trump and the primary goal was to prevent Hillary from becoming POTUS, perhaps it would have been a better strategic decision to nominate someone who actually had a chance of beating her and preventing that than nominating Donald Trump.

The dollar is also projected to strengthen against the Euro over the next four years.

We just hit a 14 month low against the Euro, Professor

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Quote:

Originally Posted by |Zach|

All kinds of people vote. Not enough of those people think highly enough of Trump to make him President but all kinds of people vote.

Quote:

Originally Posted by Donger

So, if they were polling better than Trump and the primary goal was to prevent Hillary from becoming POTUS, perhaps it would have been a better strategic decision to nominate someone who actually had a chance of beating her and preventing that than nominating Donald Trump.

For a commodity traded in dollars you'd think this would be more obvious to people...

The painfully obvious escapes people like Mrs. Direkshun.

If you listened to his hero during the debates, it was implied that gas prices are high because the economy is doing good.

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Quote:

Originally Posted by |Zach|

All kinds of people vote. Not enough of those people think highly enough of Trump to make him President but all kinds of people vote.

Quote:

Originally Posted by Donger

So, if they were polling better than Trump and the primary goal was to prevent Hillary from becoming POTUS, perhaps it would have been a better strategic decision to nominate someone who actually had a chance of beating her and preventing that than nominating Donald Trump.

All kinds of people vote. Not enough of those people think highly enough of Trump to make him President but all kinds of people vote.

Quote:

Originally Posted by Donger

So, if they were polling better than Trump and the primary goal was to prevent Hillary from becoming POTUS, perhaps it would have been a better strategic decision to nominate someone who actually had a chance of beating her and preventing that than nominating Donald Trump.